b'90 Mercia Asset Management PLC Annual Report & Accounts 2022Notes to the consolidated financial statements continued7. Operating profitOperating profit is stated after charging:Year ended Year ended31 March 31 March2022 2021000 000Administrative expenses:Staff costs including bonuses linked to performance fees (note 5) 12,961 10,703Marketing, professional adviser, travel and entertainment and other administration costs 4,150 5,111Depreciation of property, plant and equipment (note 15) 70 70Depreciation of right-of-use assets (note 16) 154 142Expenses relating to short-term leases and leases of low-value assets (note 21) 327 309Auditors remuneration 1 : Fees payable to the Companys auditor for the audit of the Company and consolidated accounts 115 115 Fees payable to the Companys auditor for other services:Review of the interim accounts of the Company 20 44The audit of accounts of subsidiaries of the Company 46 46CASS related assurance services 14 14Total administrative expenses 17,857 16,5541 The auditors remuneration for the review of the interim financial statements for the year ended 31 March 2021 relate to services provided by the Groups former auditors8. Finance incomeFinance income is derived from:Year ended Year ended31 March 31 March2022 2021000 000Cash and cash equivalents 12 5Short-term liquidity investments 2 13Investee company loans (interest and redemption premiums) 4,438 50Total interest income 4,452 689. Finance expenseYear ended Year ended31 March 31 March2022 2021000 000Interest on lease liabilities 15 20Total interest expense 15 20'